Global Environmental Monitoring Market, by Product (Mobile Device, Smart card, E-readers), by End-User (Automotive, Consumer Electronics, Retail, Medical), by Technology (Electrophoretic Display, Electrowetting Display, IMOD) - Forecast 2027
ID: MRFR/ICT/1632-HCR | February 2021 | Region: Global | 100 pages
Environmental Monitoring Market Overview:
The environmental monitoring market is reaching unprecedented heights over the years. The market growth is expected to reach USD 20 billion from 2016 to 2022. The rate at which the market potential will increase in these years is expected to be 10 percent.
The term environmental monitoring refers to the process of observing and controlling the condition of the environment after completion of the functionalities and operations of the industries. The environmental monitoring industry has access to analyze whether the instruction of environmental objectives is followed or not. The monitoring process also enables the company to know the rising environmental problems earlier. It consists of advanced technologies that allow keeping track of land contamination, air pollution, water pollution, waste management, and other environment-related issues. All these advantages project the growing demand for the environmental monitoring market.
There is an immense requirement of environmental monitoring business as it helps to protect the delicate environment from hazardous pollution. Such pollution is mainly caused by human beings to fulfill their growing need. Environmental monitoring not only helps industries to curtail pollution but also works as a helping hand for the federal government. Through the environmental monitoring market, the government can easily access important information regarding environmental conditions and plan strategies accordingly.
The government initiatives to reduce pollution and other environmental hazards led to heavy demand for the environmental monitoring market. The initiatives portray the growing concern of pollution and the effects it has on personal health. In the industrial sector, chemical production and disposing of waste materials in the surroundings create a harmful environment to live in. So, there is a massive need for industries to adopt environmental monitoring systems and utilize software pollution check systems to control the ongoing environmental issue. The growing demand for the environmental monitoring market portrays that the world requires controlling the hazards of the environment and building better environment-friendly infrastructure.
The report describes the market overview of the environmental monitoring market and its impact during the COVID19 pandemic. It includes a brief description of market dynamics and regional analysis of the environmental monitoring market. It covers the segment overview of the market and important players of the environmental monitoring business.
COVID19 Analysis:
The outbreak of the COVID19 pandemic has shown a phase of economic downturn. Businesses and working organizations faced the adverse of the pandemic, and the financial situation all around the world deteriorated. The manufacturing industries and other units were put to a halt due to the lockdown restrictions. The global economic growth rate slowed down, and it will take few more years to reach its actual position. The environmental monitoring market has also seen its worst phase during the lockdown. The closure of production units resulted in gaps in the supply chain in industry verticals. Many environmental monitoring industry projects got delayed for an uncertain time period, and several implementation strategies were put to a halt.
Although the COVID 19 pandemic affects the environmental monitoring business, the market growth is still sustaining. Industrial work and public impact on pollution will increase as soon as the lockdown restriction lessens. So, it is important for the environmental monitoring market service to meet the supply requirement of the increasing demand.
Market Dynamics:
Driver:
The government initiatives and industrial sector interest to curtail pollution make them the prime drivers of the environmental monitoring market. The government organizations for pollution control have developed various initiatives to observe the environmental conditions and produce effective strategies that can reduce them. For this process, the organizations require the help of the environmental monitoring market to safeguard the health of the public from harmful pollutants. The factor that drives the majority of the environmental monitoring market is raising utilization of software for industrial pollution checking and waste monitoring systems.
The government is taking numerous steps to establish more environment-friendly infrastructure, which will fuel the environmental monitoring market growth. The rising demand for the environmental monitoring market displays that it will increase to a greater extent in the next many years.
Environmental Monitoring Market Significant:
The Increasing level of pollution is a serious concern, and it can have a direct effect on human beings' health and lifestyle. The environmental monitoring market acts as a helping hand to observe and control the pollution levels to a certain limit. The pollution control board will utilize the opportunity of monitoring systems to check industrial sectors as well as the present state of the environment.
The policies will impact the growing pollution levels, and major projects regarding it will increase the requirement of environmental marketing. The petrochemical and natural gas industry can utilize monitoring methods to restrict the oil and toxic chemicals spillage in the natural resources. Adopting and implementing the systems of the environmental monitoring industry in different industries will aid in proper waste management. The availability of numerous opportunities will lead to an extensive increase in global environmental market growth.
Restraints:
The major market restraint of the environmental monitoring market in upcoming years is the outbreak of the COVID19 pandemic. The monitoring industry faced drastic changes in the market economy during the lockdown. The global environmental monitoring market slowed down for a certain period and tolerated the consequences of supply chain disruptions. Various projects related to monitoring were delayed, and manufacturing units were closed. All these factors impact the environmental monitoring market growth and will require a certain time to attain the potential growth rate. However, the demand for environmental monitoring systems and different checkup systems will continue to increase in the upcoming years.
Market Growth Challenges:
The environmental monitoring market is expanding its limit to a greater extent due to the heavy ongoing demand for monitoring systems. However, the market bears some potential challenges too. People lacking technical expertise are unable to use the software checkup systems and face difficulty in adjusting to modern technological advancements. Another rising challenge is the government intervention imposing strict restrictions in certain sectors, which affects the market growth. Slow incorporation of the pollution control strategies and policies results in restraining the market growth.
The stringent regulations on export services of the environmental monitoring market act as a barrier, and the high cost of equipment also leads to constraining the growth of the environmental monitoring market. By taking major steps in the implementation of more and more environmental monitoring business systems will curb the challenges of the monitoring market.
Value Chain Analysis:
The overall revenue generated by the environmental monitoring market has been increasing continuously over the past years. The reason for this exponential growth is the higher demand for monitoring equipment to retain from health hazards which in turn leads to the growth of the environmental market business. In 2016 the market value was way lower compared to the current state and will continue to improve more and more in the forecast years. By 2022, the environmental monitoring market analysis shows that the market value will reach a greater extent surpassing the historical growth rate.
Environmental Monitoring Market Segment Overview:
The global environmental monitoring market is fragmented into four types which include segments by types, applications, products, and end-users. The environmental monitoring market segments by type include passive monitoring, active monitoring, continuous monitoring, intermittent monitoring, and many others.
The market segment by application involves various pollution monitoring such as air pollution monitoring, water pollution monitoring, noise pollution monitoring, soil pollution monitoring, and other environment pollution monitoring. The environmental monitoring market segments by-products comprise sensors, monitors, and software, whereas the end-user segment consists of sectors like medical, government, food and beverages, retail, data centers, constructions, and many more.
Environmental Monitoring Market Regional Analysis:
The environmental monitoring market research shows the analysis of certain regions like North America, Europe, Asia Pacific, and the rest of the world. The North American region has control over the global environmental monitoring market share and will continue to dominate the market during the period of 2016 to 2022. The immense investments of funds in the implementation of the environmental monitoring market and imposing strict rules and regulations will drive the market of the North American region.
By the end of 2022, Europe's environmental monitoring market growth will escalate due to the rising demands of surveying instruments for the state of the environment. The European environment agency (EEN) has also established certain economic guidelines for the industries to follow, which will elevate the environmental monitoring market. In the Asia Pacific region, the government has taken initiatives to develop more environment-friendly infrastructures that will make the fastest-growing monitoring market in the region.
Competitive Landscape of environmental monitoring market:
The environmental monitoring market top leaders are the key players and have sufficient control over the market. Some prime players of the environmental monitoring market are:
- Danaher Corporation (U.S.)
- Agilent Technologies, Inc. (U.S.)
- Environmental Sensors Inc. (Canada)
- Siemens AG (Germany)
- Emerson Electric Co. (U.S.)
- General Electric Company (U.S.)
- Nidec Corporation (Japan)
- Lockheed Martin Corporation (U.S.)
- Honeywell International, Inc. (U.S.)
- Thales Group (France)
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 20 Billion (2016-2022) |
| CAGR | Substantial CAGR |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product, by Technology |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Danaher Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Environmental Sensors Inc. (Canada), Siemens AG (Germany), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Nidec Corporation (Japan), Lockheed Martin Corporation (U.S.), Honeywell International, Inc. (U.S.), Thales Group (France) |
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| Key Market Drivers |
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